Two indicted in connection to J.P. Morgan “London Whale” losses

Ex-traders charged by New York grand jury for hiding billions in lost trades.

Following a formal complaint filed against them in August, two former J.P. Morgan Chase employees have been indicted by a New York grand jury on charges that they hid trading losses of over $6.2 billion last year.

 Javier Martin-Artajo and Julien Grout were named in the indictment, which was unsealed in a Manhattan federal court on Monday.  The money lost was part of the so-called “London Whale” incident, in which trader Bruno Iksil lost a series of considerable bets on a portion of the credit market. Martin-Artajo was Iksil’s supervisor, while Grout was one of his employees.

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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